EFCC reveals what they do with Recovered Loots

The Economic and Financial Crimes Commission (EFCC) has revealed that recovered monies are paid into the Consolidated Revenue Fund of the Federal Government.

The Anti-graft agency stated this in response to a question via its twitter handle @OfficialEFCC on Saturday.

Recall that the Economic and Financial Crimes Commission (EFCC) recovered the sums of $9.8m and £74, 000 in former group managing director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Andrew Yakubu's house in Kaduna.

The handler said: “After the law takes its course, recovered monies are paid into the Consolidated Revenue Fund of the Federal Government”.

"Our job is to investigate and prosecute. Recovered monies are paid into the Consolidated Revenue Account of the FG".

Consolidated revenue account is government's purse in which all government receipts are paid into and expenditure allocated from this account and is usually estimated in the constitution.

The response was immediately retweeted by @AbikeDabiri, the Special Adviser to President Muhammadu Buhari on foreign affairs.

http://www.newshelm.com/2017/02/what-we-always-do-with-recovered-loots.html

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